M&A

Date: 02.10.2023

by Mateusz Mazur

Last update: 25.11.2023 10:48

Entain Completes Acquisition of Angstrom Sports, Enhancing US Sports Betting Capabilities

Entain, the global leader in sports betting, gaming, and interactive entertainment, has successfully concluded its acquisition of Angstrom Sports, a specialized provider of advanced sports modeling, forecasting, and data analytics.

 

This strategic move aligns with Entain’s commitment to delivering a superior sports betting experience.

Acquisition Details

As initially announced on July 17, 2023, Entain acquired Angstrom Sports for an initial consideration of £81 million, payable upon completion. Additionally, there are contingent payments of up to a maximum of £122 million, which will be disbursed over a span of three years.

Angstrom’s Proprietary Offering

Angstrom Sports brings a proprietary next-generation suite of capabilities to Entain. This acquisition positions Entain as the sole global operator with highly advanced in-house capabilities in forecasting, analytics, risk assessment, and pricing for the US sports betting markets. By integrating Angstrom’s expertise with its global scale and industry-leading platform, Entain is poised to offer customers an unparalleled US sports betting experience. This will be characterized by a wide range of betting opportunities and innovative products.

Jette Nygaard-Andersen, CEO of Entain, expressed her delight at Angstrom’s inclusion within the Entain family. She said “We are delighted that Angstrom has joined Entain, enabling us to accelerate development of the Entain Platform bringing even more product capabilities in-house. Angstrom’s proprietary next generation capabilities will unlock significant opportunities, particularly for our US sports betting offering through BetMGM. We look forward to working closely with the Angstrom team and are excited to provide our customers with an unrivalled sports betting experience.”

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